Why Quiksilver Shares Sped Higher

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of apparel maker Quiksilver (NYSE: ZQK  ) are speeding higher by as much as 13% after the company reported second-quarter earnings and narrowed its net loss from a year ago.

So what: Revenue inched higher by 3% to $492.2 million, which resulted in a net loss of $5.1 million, or $0.03 per share. Those results were actually shy of Street estimates, and the company said that higher costs and regional uncertainties, particularly in Europe, held back its results.

Now what: CEO Robert McKnight, Jr. said the company was "turning the page" on a challenging first half of the year where gross margins were low, but expects the second half of the year to improve. The back-to-school season typically bodes well for its DC brand, and Quiksilver expects to reduce inventory levels. Comparable-store sales grew 6% worldwide, and online sales continued to grow.

Interested in more info on Quiksilver? Add it to your watchlist by clicking here.

Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

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  • Report this Comment On June 13, 2012, at 4:33 AM, Chemsoldier88 wrote:

    Their top execs banked anywhere from 4mil to 10mil last year. That's absurd and shareholders should be upset. Nike's Execs averaged around the same for comparison!

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ZQKSQ $0.00 Down +0.00 +0.00%
Quiksilver, Inc. CAPS Rating: **